Update: Full Target Hit
Profit/loss(pips)= +65
Price has drawn a long legged doji at the 1.27 projection of the latest bearish wave, meanwhile fails to decisively close above the 50-days SMA on a daily basis. A bearish divergence is also seen over the four hour time interval.
One concern is the the pair's ability to break and hold above the main falling trend line for the whole bearish wave that started from 0.8745, there is a room for a correction and a retest of the broken trend line.
Profit/loss(pips)= +65
Price has drawn a long legged doji at the 1.27 projection of the latest bearish wave, meanwhile fails to decisively close above the 50-days SMA on a daily basis. A bearish divergence is also seen over the four hour time interval.
One concern is the the pair's ability to break and hold above the main falling trend line for the whole bearish wave that started from 0.8745, there is a room for a correction and a retest of the broken trend line.